International Reserves in Mongolia

Mongolia International Reserves | Economic News & Forecasts

Mongolia - International Reserves

The economy likely lost steam in the second quarter as social distancing took its toll on domestic activity and external demand remained downbeat. Industrial activity, which contracted sharply, was especially affected by restrictions. Moreover, the external sector deteriorated markedly in Q2, with oil exports particularly hit, on a combination of lower volume and an overall decline in prices. As Mongolia’s economy relies heavily on trade, external financing challenges have arisen from the deterioration of the balance of payments. As a consequence, the government triggered the IMF’s Rapid Financing Instrument in June and received a loan from the Asian Development Bank in May, with combined support worth roughly USD 200 million. In other news, the incumbent Mongolian People’s Party won a majority in parliamentary elections held on 24 June, maintaining political stability.

Mongolia - International Reserves Data

2015   2016   2017   2018   2019  
International Reserves (USD)1.3  1.3  3.0  3.5  4.3  

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Mongolia International Reserves Chart

Mongolia International Reserves
Note: International reserves, months of imports.
Source: Bank of Mongolia and FocusEconomics calculations.

Mongolia Facts

Value Change Date
Exchange Rate2,735-0.04 %Jan 01

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